SoFi Just Reported Earnings. Is the Stock a Buy Now?
It fell 13% after the report.
Overview
SoFi Technologies (NASDAQ: SOFI) just can't get any market love these days. The neobank continues to demonstrate outstanding performance, and its stock continues to drop. After its second-quarter results were released on Wednesday morning, with record revenue and profits, SoFi stock fell another 13% as of this writing.
Is this just a continuation of negative sentiment that won't vanish? Or is the stock ripe for buying at the current price?
Details
SoFi is making its name as a major player in U.S. consumer banking. It continues to add new customers at a rapid pace, but it's also generating higher revenue through its cross-buy strategy. Management sees the company's differentiating factor as being a "one-stop shop" for all your digital banking needs, and as it onboards new customers and gets them to add new products, it's enjoying a flywheel effect of higher revenue and profits.
Source
Originally published at www.fool.com.